Facebook's Meta Move, Microsoft Zooms
Edition 31
Dia dhuit ar maidin (Ghia-dhoit-ar-magin).. or good morning as they say in Irish. Welcome back to another edition of Business News for Kids (BNFK for short; genius isn’t it? 🤯).
About BNFK
Knowledge is at the heart of being. To be more, we must know more.
With this weekly we distill the latest, most interesting, Business News 📰 .. to an emoji filled, ultra informative, Newsletter for Kids. A dad 👽 & son 👾 experiment, delivered every Sunday.
Catch our previous editions here. If you’re forwarding this to someone, they can hit this 👇 to subscribe for Free.
Busy business this week 💼
Meta. Yes, thats the new name of Facebook Inc. Earlier Facebook the company was the owner of Facebook app, Instagram, WhatsApp, Occulus and many other brands. But in order to reflect the group of companies better, and not associate them all with the brand Facebook, they decided to rename the group company to Meta. And bought their first ‘virtual’ or should we say metaverse fitness co.
While Meta was born, Microsoft zoomed on to snatch away the no.1 spot for the worlds most valuable company, by beating Apple with a Market Cap of $2.49 Trillion vs. Apple’s $2.46 Trillion 🤷.
And Google marks down. It has decided to reduce its 30% commission on play store sales, dubbed the “google tax” by developers, down to 15% forever. In an earlier move they had changed the charges to 15% for the first year but would continue to charge, 30% thereafter. Now it’s standardised at 15%.
While Tesla blazed 🚀 past the famed $1 Trillion Valuation 💰💰💰 on 25th October making it only the 7th company to do so. A $4.2 billion order for 100,000 Tesla’s by car rental company Hertz sure helped bump Tesla’s value.
And seeing all this booming growth, the United States Government wants to tax these Capital Gains.. wait for it.. even if they are ‘Unrealised’ 🤷. You see usually one pays taxes on ‘realised’ gains i.e. the money one gets in hand. However this new law, applicable only to Billionaires, proposes to tax people based on the growth in the value of their assets, even if those assets don’t result in a cash pay out.
Wait, what is..
Brands: A brand is a name, mark, sign, or logo that helps people recognise a product or company.
Commission: A percentage of fee kept by a person or company that has helped enable a transaction.
Capital Gains: Profit you earn on selling any asset you own e.g. Shares in a company, a Home etc.
Woah 😱 Weird 🥴?
Research and data publication company Our World In Data released its annual CO2 consumption report that highlights countries and industries that produce the maximum CO2. China contributes 27% 😱, the USA is next with 15% 😱, followed by Europe at 9.8%, India at 6.8% and Russia at 4.7%. Seeing this is a big problem, payments startup Stripe has launched a Carbon Removal marketplace 👏.
Inspiring business people to know 🙏
Meet the Collison brothers, our inspiring business person(s) of the week.
Patrick & John Collison are Irish founders of mega behemoth payments startup Stripe, that is currently valued over $100 billion 😱, and is still a private company. They founded Stripe in 2010, two years after selling their first startup when Patrick was 19 and John 17 🚀🚀🚀. In 2016 the brothers became the youngest self made billionaires after their company was valued at $9.9 billion - today, just 5 years later, each of their estimated net worth is $9.5 billion 🤯🤯.
Stocks, stonks and.. ⚡️
Indian payments company PayTM is set to launch India’s biggest IPO aiming to raise $2+ billion or Rs.16,600 crores 🤯 after receiving approvals from the Securities and Exchange Board of India.
Apple & Amazon reported earnings for the quarter ending September 2021, and both fell short of expectations citing supply constraints (remember the shipping blockade?). This inspite of reporting mega billions in revenues - Apple reported revenues of $84 billion, while Amazon $110.8 billion 🚀.
Earnings, Market Cap 👉 Wait What Glossary 👈
Mental models.. whaaaat! 🤯
My dad insisted we put this section in here, even though I protested saying its going to be a while before kids need to apply mental models. Mental models are nothing but ways of thinking, you can use as a framework, to take decisions or solve problems. Who knows, they might just be useful!
The Go Van Gogh Mental Model - As we've mentioned before, often we take inspiration from the world around us to bring you some interesting made-up-by-us models. This edition we bring you one from our recent trip to a super cool Van Gogh 👨🎨 VR show and have aptly named it the Go Van Gogh model 👇👇👇
Van Gogh 🖼 once said "Great things are done by a series of small things brought together" - now we're sure you remember the One Step Model where we talked about how we can solve any problem by solving it one step at a time. An extension of that is to know that in order to do great things, we need to start with small successes. So don't worry about doing great things.. do the tiny things right, and we're sure you'll do something great soon after. 🤗Tech, products, toys ++ 🤖
Headphones 🎧 gone, Bonephones on ☠. Startup Sentien Audio has introduced headphones that use the bones in your skull 😱 to ‘transfer’ or ‘conduct’ music - this new bone conduction technology sure will leave your ears pleased. 👇
Pro Tip: The magic of learning is in curiosity. Don’t shy away from clicking those hyperlinked texts to read and learn more. We mostly hyperlink to text we have read ourselves to make sure it is safe, but please be aware that comments and ads shown on these pages are beyond our control. We recommend using a kids friendly browser to view the links. Please read all Disclaimers.
Thank you so much for reading - 👾 & 👽 - Pls hit share to make someone’s day. 🚀